Month: February 2023

Binance delves into decentralized Web3 storage with BNB Greenfield

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BNB Chain, a blockchain platform launched by crypto exchange Binance, revealed interest in building a blockchain-based Web3 infrastructure in its new BNB Greenfield white paper. The white paper explains it as a decentralized storage infrastructure within BNB Chain, which allows users and decentralized applications (DApps) full ownership of the data. Potential use cases include website hosting, personal cloud and data storage, publishing and more The testnet of the proposed Web3 infrastructure — built by the BNB Chain core team — is supported by community developer teams from Amazon Web Services,…

UK Plans to Mandate New Authorization for All Crypto Firms – Including Those Registered

The new regime has a broad scope in terms of geography, crypto types, and activities. Foreign trading venues could be forced to set up a subsidiary in the country given their “critical role in the crypto asset value chain,” the document said. It would also apply to utility tokens and non-fungible tokens (NFTs) if they are being used for financial services such as lending, payments or investment. Source

Blockchain IM apps to see over half-billion dollar valuation by 2030

Blockchain use cases continue to surface as the technology becomes more accessible. In the case of already-known use cases, such as blockchain-based messaging applications, mass adoption is on the horizon. According to a new report from Grand View Research, the global blockchain messaging application market size is forecasted to hit a valuation of $536.5 million by 2030. The report, released on Feb 1. highlights this as a 43.6% compound annual growth rate in the 7-year timespan. In 2021, the market valuation for blockchain messaging applications was around $22.2 million. At…

Blockchain IM apps to reach over half-billion dollar valuation by 2030

Blockchain use cases continue to surface as the technology becomes more accessible, with some use cases, such as blockchain-based messaging applications, on the cusp of mass adoption. According to a new report from Grand View Research, the global blockchain messaging application market size is forecasted to hit a valuation of $536.5 million by 2030. The report, released on Feb 1. highlights this as a 43.6% compound annual growth rate in the seven-year timespan. In 2021, the market valuation for blockchain messaging applications was around $22.2 million. At that time, North…

India Maintains Position on Crypto Tax in Budget

There are fears that India may use its position as president of the G-20 in its fight against the cryptocurrency industry. World’s largest democracy, India, has maintained its crypto tax rules in its latest budget. Last April, the Indian government announced a 30% tax on crypto gains. It also imposed a 1% tax deducted at source (TDS) on all crypto-asset transactions. It didn’t take long before the law set the crypto industry back. There were expectations that the government may announce tax cuts during the 2023 budget announcement. However, nothing…

Troubled Crypto Exchange Bitzlato Seeks to Make Comeback

The co-founder of Bitzlato stated that they will allow 50% of user funds in Bitcoin held in Bitzlato wallets to be withdrawn on the same day we launch. As per the latest development, the defunct crypto exchange Bitzlato is looking to make a comeback once again in the market. The Hong Kong-based crypto change Bitzlato has been charged with money laundering and got its servers seized in a major international operation earlier this month. In a recent interview, the Bitzlato co-founder said that the company is planning to resume operations…

AI Investment Fund Driven by IBM’s Technology Makes Nearly 100% Returns

A Watson-powered AI investment fund has been making waves for its relative success in balancing its vast portfolio holdings.  A $102 million AI investment fund powered by IBM’s (NYSE: IBM) Watson supercomputer is reportedly giving OpenAI’s ChatGPT a run for its money. According to a Markets Insider report, the AI Powered Equity ETF (AIEQ) is the AI-driven investment fund to watch out for. The EFT launched in 2017 and relies on the Watson supercomputer to balance its 114-holding portfolio, which is up 10.4% this year. Comparatively, the Vanguard Total Stock Market ETF is up…

EIB Launches First Digital Sterling Bond Product on Blockchain

The European Investment Bank occupies a very pivotal position in driving the financial landscape of the industry in the European Economic Area. The European Investment Bank (EIB) has launched the first Digital Sterling Bond on the blockchain as it deepens its use of the technology for more mainstream financial securities and products. As reported by Reuters, the EIB deployed a private blockchain to host the digital Sterling bonds, and it plans to float another copy on a public blockchain in a bid to foster transparency. The launch of the digital…

Tether CTO denies borrowing from bankrupt lender Celsius

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Tether (USDT) — the world’s largest stablecoin by market capitalization — has never received any loan from the bankrupt cryptocurrency lender Celsius, according to the chief technology officer. Paolo Ardoino, CTO at Tether and Bitfinex crypto exchange, took to Twitter on Jan. 31 to announce that Tether has “never borrowed from Celsius.” The tweet came in response to the Celsius bankruptcy examiner report, which allegedly mistakenly implied that Tether was among Celsius’ borrowers alongside firms like Three Arrows Capital, which borrowed $75 million from the firm. Released on Jan. 31,…